$ELSA 5-minute decline of 3.77%, current price 0.08908. There are two possible scenarios next:
① If volume contracts, price holds sideways, and it reclaims the breakdown level → this is probably just a shakeout
② If the rebound fails to reclaim that level and price breaks below the 24h low of 0.07313 → the downtrend may continue
I’d personally wait to see how the stabilization signals develop before making a judgment. Which side do you favor? Let me know.
Just my personal view; it may not be accurate, so please use caution.
① If volume contracts, price holds sideways, and it reclaims the breakdown level → this is probably just a shakeout
② If the rebound fails to reclaim that level and price breaks below the 24h low of 0.07313 → the downtrend may continue
I’d personally wait to see how the stabilization signals develop before making a judgment. Which side do you favor? Let me know.
Just my personal view; it may not be accurate, so please use caution.